Chemical Industry Profits to Fall in 2009: Report

10:39 AM MDT | May 27, 2009 | Vincent Valk

Overall profitability in the chemical industry is expected to fall by 20% in 2009, according to an industry outlook by Moody's Investors Service (New York). The report expects a slight rebound in 2010, however, even that will leave the industry "well below 2008 performance levels." While inventory de-stocking is "largely complete," according the report, and the worst of the recession may be over, a true recovery does not appear to be at hand. "We expect a slow improvement in demand for the second and third quarters," the report says...